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Finances in Stephenson multimillion dollar divorce finalized

Multimillionaire Richard Stephenson married Alicia 26 years ago, and 16 years later they decided to separate. Two more years elapsed before Alicia Stephenson filed for divorce. For the past eight years, the Cancer Treatment Centers of America founder and his former wife battled to reach an out-of-court settlement, but all their efforts failed. In the end, it was up to the court and an Illinois judge to decide how to divide the millions.

Reportedly, Alicia sought $400,000 per month, but the judge decided that $27,500 after taxes is sufficient. This will go along with jewelry, a Porsche, two motorcycles, a 401(k) and more. Alicia's share of other financial assets will bring her a lump-sum payment of $6.5 million, and $450,000 as a one-time payment to secure housing -- as per a prenuptial agreement.

The judge acknowledged Alicia's involvement in her former husband's business but noted the fact she had made no effort to acquire any education or training that would help her secure employment. The court found that she had ample time to do that. Alicia received temporary alimony of $66,000 per month during the time that they could not reach a settlement themselves.

Going through a high net worth divorce can be a complicated process with multiple challenges. However, having an experienced Illinois divorce attorney on his or her side can ease the process for any divorcing spouse. A lawyer might be able to help during negotiations, but when litigation is the only way to go, he or she will be ready to go to court.

Source: chicagotribune.com, "8-year divorce battle ends with multimillionaire's ex-wife getting $6.5M, Porsche", Amanda Marrazzo, Robert McCoppin, Sept. 14, 2017

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Courtney, Clark & Mejias, P.C.
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Belleville, IL 62220

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